The global microfluidics market size is expected to reach USD 31.6 billion by 2027, according to a new report by Grand View Research, Inc., registering an 11.3% CAGR over the forecast period. Demand for microfluidic-based devices is expected to surge owing to introduction of novel technologies such as digital microfluidics. These techniques allow on-chip biochemical analysis, thereby driving adoption.
Rise
in the adoption of microfluidics for point-of-care diagnostics is expected to
have a significant impact on market growth. Industry players such as Abbott,
Roche, and Danaher have already incorporated this technology in their existing
diagnostic devices and are exploring the scope of digital microfluidics. For
instance, Philips’ Minicare I-20 handheld device provides accurate and rapid
results for the diagnosis of heart attacks.
Large
investments targeted toward the development of microfluidics and promoting
their adoption are expected to create opportunities for the expansion for
automated as well as miniature devices. For instance, according to an article
published in 2018, there have been large-scale investments in
“sample-to-answer” microfluidic automated testing in recent years.
Microfluidics
has not only been proven beneficial in biological bench-work but also several
medical and pharmaceutical applications, including diagnosis of infectious
diseases and treatment of cancer. The technology aids in the fabrication of
functional living tissues and artificial organs. Companies such as Abbott,
Roche, Cepheid, and Becton, Dickinson and Company (BD) are integrating such
technologies with in-vitro diagnostics (IVD). Samsung LABGEOPT10 and Abbott
i-STAT are examples of single-step blood glucose testing assays that can work
on a small sample volume (a single blood drop).
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Further key
findings from the study suggest:
- The medical/healthcare
segment dominated the market by technology owing to rise in demand for new
molecular diagnostic tests with enhanced sensitivities, shorter turnaround
time, and increased accuracy at minimal costs
- PCR & RT-PCR were the
largest revenue-generating medical technology in 2019 and the segment is
expected to retain its lead throughout the forecast period. Digital PCR in
combination with a microfluidic device allows a large amount of PCR
reaction mix to be distributed into nanoliter-sized volumes automatically
- The organs-on-chips
application segment is expected to register the fastest CAGR throughout
the forecast period. The method can potentially reduce the failure rate in
drug development pipelines, thereby reducing the time and money associated
with drug development
- By material,
polydimethylsiloxane (PDMS) accounted for the largest revenue share in
2019. The material is used to fabricate microfluidic-based devices because
of its nontoxicity, robustness, optical transparency, permeability,
biocompatibility, elastomeric features, and low cost.
- North America dominated the
global microfluidics market in 2019 and is expected to retain its
dominance over the analysis period. Local presence of leading players,
availability of funds and research capital, and launch of novel sample
volume screening technologies drives the North America market
- Asia Pacific is expected to
witness the fastest growth owing to rise in aging population, demand for
point-of-care diagnostic tests, and presence of academic institutions such
as the Institute of Microchemical Technology (IMT), Japan, that are
focused on microfluidic-based research
- Illumina, Inc.; PerkinElmer,
Inc.; Agilent Technologies, Inc.; Danaher Corporation; Bio-Rad
Laboratories, Inc.; Life Technologies Corporation; Abbott Laboratories; F.
Hoffmann-La Roche Ltd; and Fluidigm Corporation are some of the key players
operating in the global market
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Grand View Research has segmented
the global microfluidics market based on technology, application, material, and
region:
Microfluidics
Technology Outlook (Revenue, USD Million, 2016 - 2027)
- Medical/Healthcare
- PCR & RT-PCR
- Gel Electrophoresis
- Microarrays
- ELISA
- Others
- Non-Medical
Microfluidics
Application Outlook (Revenue, USD Million, 2016 - 2027)
- Lab-on-a-chip
- Medical
- Non-Medical
- Organs-on-chips
- Medical
- Non-Medical
- Continuous flow
microfluidics
- Medical
- Non-Medical
- Optofluidics and
microfluidics
- Medical
- Non-Medical
- Acoustofluidics and
microfluidics
- Medical
- Non-Medical
- Electrophoresis and
microfluidics
- Medical
- Non-Medical
Microfluidics
Material Outlook (Revenue, USD Million, 2016 - 2027)
- Silicon
- Glass
- Polymer
- PDMS
- Others
Microfluidics
Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- India
- China
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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